The success of bitcoin has resulted in a new avenue for gambling through online software-based bitcoin gambling sites. Some popular casinos have gone as far as to only offer bitcoin as a valid currency in transactions, while other casinos offer it alongside more traditional currencies. A Bitcoin gambling sites are such casinos which use Bitcoin along with other cryptocurrencies only as one of its in-game currencies.
How does it work?
Being the heart of any online gambling or gaming business software is the backbone of a bitcoin casino. Most popular casinos with large user bases developed their own gaming software. Smaller players use purchased or rented versions, which may be modified by adding a few unique features to the game.
As the games are operated by the software, there is little need for any human involvement. For games where all human players are required, the gaming software even acts as the dealer. As the business is software-based or based on the digital world, it tries to convince users that they run a fair business. Most casinos do this by being transparent about the inner-workings of their software algorithms. Others rely on unique offers in their games or a peer to peer reference.
How is it better than a traditional casino?
Traditional casinos are known for concealing information from their customers, such as potential winnings. They also have a bad reputation for using various obscure tricks that give them an upper edge over gamblers. Many gamblers are usually unaware of these heinous tricks. Accordingly, they continue gambling and losing without knowing the actual reason for their losses. Traditional casinos typically take advantage of oblivious gamblers, in an unscrupulous manner.
Bitcoin casinos have eradicated the possibility of the house using dodgy tricks that give it an upper hand in winning. They provide a transparent and clear platform ensuring the odds are legit and clear to gamblers. This transparency ensures a mutually positive business relationship eliminating most forms of scams.
As the No. 1 cryptocurrency, bitcoin became more regarded as a valid form of currency, people will become more comfortable with using it. As online gambling is gaining popularity, and more casinos are adopting bitcoin, the digital currency only stands to gain greater exposure. It seems that a number of bitcoin gaming sites are trying to be transparent and emphasize the legitimacy of bitcoin, which will only increase confidence among gamblers.